After taking a 10% equity stake in Intel worth $8.9 billion, the government waived performance benchmarks and accountability requirements despite Intel receiving over $11 billion in total federal support through CHIPS Act grants and additional programs. The benchmark waiver eliminates standards that …
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Commerce Secretary Howard Lutnick revealed that Trump administration military leaders are ’thinking about’ acquiring equity stakes in major defense contractors including Lockheed Martin, Boeing, and Palantir Technologies. Lutnick justified the proposal by noting Lockheed Martin derives …
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Commerce Secretary Howard Lutnick announced the U.S. government acquired a 10% stake in Intel by converting $8.9 billion in CHIPS Act grants into equity, purchasing 433.3 million shares at $20.47 per share. Of this total, $5.7 billion came from previously awarded but unpaid CHIPS Act grants, and …
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